The Capital Development Authority (CDA) announced plans to engage Pakistan’s embassies and missions abroad to attract foreign investors for the auction of two five-star hotel plots scheduled for December 17.
At a meeting chaired by CDA Chief Muhammad Ali Randhawa, it was decided to involve the federal government in this initiative to ensure the auction’s success.
“The meeting decided to attract foreign investors for hotel plots and overseas Pakistanis for residential plots. For this purpose, we, through the federal government, will engage our embassies and foreign missions,” said a participant of the meeting.
A CDA statement outlined the chairman’s directive to implement a comprehensive strategy to promote awareness among overseas Pakistanis about the auction process and investment prospects in Islamabad.
Meeting with investors
CDA Chairman Muhammad Ali Randhawa met with a delegation of investors at the CDA headquarters on December 3 to discuss the upcoming auction of prime hotel plots in Islamabad.
Senior officials were also present at the meeting, where the investors received a detailed briefing on the specific plots.
Chairman Randhawa emphasized the critical need for international-standard five-star hotels in the city to meet the growing demand for hospitality services. He highlighted that this initiative would enhance Islamabad’s capacity to host national and international events, promote tourism, boost the local economy, and elevate the city’s global profile as a premier destination.
Prime location plots
The plots, numbered 6 and 8, are located in Sector F-5, near the Pakistan National Arts Council (PNCA) and Marriot Hotel. According to CDA documents, these locations are prime spots for upscale hospitality developments due to their proximity to government offices and headquarters.
In addition to hotel plots, the CDA also discussed preparations for residential plot auctions in Sector C-14. While the date for this auction, involving over 200 plots, remains unannounced, sources suggest it may take place in January.
Relaxation in policies
The CDA has introduced new relaxed policies to facilitate investors. For instance, successful bidders of hotel plots can gain possession after paying 75% of the total amount and can secure building plan approvals upon payment of 25%.
The chairman described these investor-friendly terms as part of a broader strategy to attract substantial investments in the capital city. CDA has also adopted flexible payment plans, allowing investors to pay over two years instead of the previous one-year timeframe.
These measures aim to encourage maximum participation from local and overseas Pakistanis, making investment opportunities in Islamabad more accessible.